United Refining earnings fall

Warren-based United Refining Co. expects to move ahead this year with a scheduled upgrade to its refinery, which processes 67,000 barrels of oil a day.

The company, owned by John A. Catsimatidis, has a strong cash position with more than $175 million on hand. But 2013 did little to improve that position.

United said that because of a decline in prices, earnings before interest, taxes, depreciation and amortization took a dive for the quarter that ended Nov. 30, dropping $102 million to $12.2 million from the same quarter in 2012.